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REGISTERED NUMBER: 04161472 (England and Wales)















Unaudited Financial Statements

for the Period 31 December 2021 to 29 December 2022

for

Powerall Limited

Powerall Limited (Registered number: 04161472)






Contents of the Financial Statements
for the Period 31 December 2021 to 29 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Powerall Limited

Company Information
for the Period 31 December 2021 to 29 December 2022







DIRECTORS: Mr M W Plackett-Smith
Mrs J A Plackett-Smith





SECRETARY: Mrs J A Plackett-Smith





REGISTERED OFFICE: Unit 3a Birch Park
Huntington Road
York
YO31 9BL





REGISTERED NUMBER: 04161472 (England and Wales)





ACCOUNTANTS: Northern Tonic Limited
14 Clifton Moor Business Village
James Nicolson Link
York
YO30 4XG

Powerall Limited (Registered number: 04161472)

Balance Sheet
29 December 2022

29.12.22 30.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,713 10,017

CURRENT ASSETS
Stocks 61,033 77,421
Debtors 5 88,835 144,746
Cash at bank and in hand 8,109 13,080
157,977 235,247
CREDITORS
Amounts falling due within one year 6 131,794 145,989
NET CURRENT ASSETS 26,183 89,258
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,896

99,275

CREDITORS
Amounts falling due after more than
one year

7

(32,164

)

(43,166

)

ACCRUALS AND DEFERRED INCOME (6,118 ) (10,956 )
NET (LIABILITIES)/ASSETS (7,386 ) 45,153

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (7,388 ) 45,151
(7,386 ) 45,153

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 December 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Powerall Limited (Registered number: 04161472)

Balance Sheet - continued
29 December 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2024 and were signed on its behalf by:





Mr M W Plackett-Smith - Director


Powerall Limited (Registered number: 04161472)

Notes to the Financial Statements
for the Period 31 December 2021 to 29 December 2022

1. STATUTORY INFORMATION

Powerall Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for the provision of goods and services in the ordinary course of the company's activities. Turnover is shown net of discounts, rebates and value added tax.

The company recognises revenue when:
the amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the company; and
specific completion criteria have been met for each of the company's activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery 3 years straight line
Motor vehicles 25% on reducing balance
Fixtures and fittings 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Powerall Limited (Registered number: 04161472)

Notes to the Financial Statements - continued
for the Period 31 December 2021 to 29 December 2022

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 10 (2021 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 31 December 2021 148,769
Additions 2,517
Disposals (81,419 )
At 29 December 2022 69,867
DEPRECIATION
At 31 December 2021 138,752
Charge for period 1,280
Eliminated on disposal (74,878 )
At 29 December 2022 65,154
NET BOOK VALUE
At 29 December 2022 4,713
At 30 December 2021 10,017

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.12.22 30.12.21
£    £   
Trade debtors 35,218 78,783
Other debtors 53,617 65,963
88,835 144,746

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.12.22 30.12.21
£    £   
Bank loans and overdrafts 10,126 10,126
Trade creditors 22,375 60,147
Taxation and social security 72,637 62,319
Other creditors 26,656 13,397
131,794 145,989

Powerall Limited (Registered number: 04161472)

Notes to the Financial Statements - continued
for the Period 31 December 2021 to 29 December 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.12.22 30.12.21
£    £   
Bank loans 29,534 39,660
Other creditors 2,630 3,506
32,164 43,166

8. CONTINGENT LIABILITIES

There is currently a HMRC tax Enquiry into the company and related parties which may impact on the tax treatment of transactions in previous years. At the date of signing, the outcome of the enquiry is unknown and therefore no provision has been made in these accounts.

9. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments not included in the balance sheet is £30,292 (2021 - £10,209).

10. RELATED PARTY DISCLOSURES

Transactions with directors


2021

At 31.12.20 Advances Repayments At 30.12.21
£    £    £    £   
Directors' loan account 9,567 1,178 10,745 0




Summary of transactions with entities with joint control or significant interest

There were transactions during the year with two companies that are under common ownership.

Income and receivables from related parties
2022 2021
£    £   
Sale of property or other assets 0 52,000

Amounts receivable from related parties 21,554 44,760


Expenditure with and payable to related parties
2022 2021
£    £   
Leases 56,788 62,138
Settlement of liabilities 1,572 26

Amounts payable to related parties 18,552 0